Needham & Company LLC Trims Applied Optoelectronics, Inc. (AAOI) Target Price to $50.00
Applied Optoelectronics, Inc. (NASDAQ:AAOI) had its price target reduced by investment analysts at Needham & Company LLC from $75.00 to $50.00 in a research report issued on Wednesday. The brokerage currently has a “strong-buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 31.96% from the stock’s current price.
Other equities research analysts have also issued reports about the company. BWS Financial set a $25.00 price target on Applied Optoelectronics and gave the company a “sell” rating in a research report on Sunday, October 15th. Zacks Investment Research lowered Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 17th. BidaskClub raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Vetr lowered Applied Optoelectronics from a “strong-buy” rating to a “buy” rating and set a $84.73 price target on the stock. in a research report on Friday, July 14th. Finally, ValuEngine raised Applied Optoelectronics from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $63.87.
Applied Optoelectronics (AAOI) opened at $37.89 on Wednesday. The firm has a market capitalization of $729.66, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 0.50 and a beta of 2.90. Applied Optoelectronics has a fifty-two week low of $21.66 and a fifty-two week high of $103.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.85 and a quick ratio of 2.07.
Applied Optoelectronics (NASDAQ:AAOI) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.23). The company had revenue of $88.90 million during the quarter, compared to analysts’ expectations of $88.53 million. Applied Optoelectronics had a return on equity of 31.31% and a net margin of 21.92%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. equities analysts forecast that Applied Optoelectronics will post 4.28 earnings per share for the current year.
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In other news, Director Chewei Lin sold 7,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $58.00, for a total transaction of $406,000.00. Following the transaction, the director now directly owns 45,638 shares of the company’s stock, valued at $2,647,004. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard B. Black sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $66.10, for a total value of $66,100.00. Following the transaction, the director now directly owns 39,478 shares in the company, valued at $2,609,495.80. The disclosure for this sale can be found here. Insiders have sold 13,050 shares of company stock worth $805,381 over the last three months. Corporate insiders own 8.19% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. increased its holdings in shares of Applied Optoelectronics by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,937 shares of the semiconductor company’s stock valued at $614,000 after purchasing an additional 26 shares during the period. Legal & General Group Plc increased its holdings in shares of Applied Optoelectronics by 3.6% during the first quarter. Legal & General Group Plc now owns 4,412 shares of the semiconductor company’s stock valued at $248,000 after purchasing an additional 153 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of Applied Optoelectronics by 7.9% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,100 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 300 shares during the period. Nationwide Fund Advisors increased its holdings in shares of Applied Optoelectronics by 3.2% during the second quarter. Nationwide Fund Advisors now owns 10,909 shares of the semiconductor company’s stock valued at $674,000 after purchasing an additional 343 shares during the period. Finally, Carnegie Capital Asset Management LLC increased its holdings in shares of Applied Optoelectronics by 4.3% during the second quarter. Carnegie Capital Asset Management LLC now owns 8,920 shares of the semiconductor company’s stock valued at $834,000 after purchasing an additional 370 shares during the period. 80.05% of the stock is currently owned by institutional investors.
Applied Optoelectronics Company Profile
Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for networking end markets, such as Internet data center, cable television (CATV), fiber-to-the-home (FTTH) and telecommunications (telecom). The Company designs and manufactures a range of optical communications products at varying levels of integration, from components, subassemblies and modules to turnkey equipment.
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